RBC to take complete control of RBC Dexia

The Royal Bank of Canada will now take over RBC Dexia in Esch-Belval entirely. Economy Minister Etienne Schneider made the announcement on Tuesday night after talks with top officials at the Canadian bank in Toronto.

09.05.2012

(MG/ADW) The Royal Bank of Canada will now take over RBC Dexia in Esch-Belval entirely. Economy Minister Etienne Schneider made the announcement on Tuesday night after talks with top officials at the Canadian bank in Toronto.

Schneider is currently on a Canadian economic mission until next Saturday, led by Hereditary Grand Duke Guillaume with visits to Montreal, Toronto and Vancouver.

RBC Dexia in Luxembourg currently employs more than 1,000 people. The renowned Canadian bank together with Dexia set up the joint venture, RBC Dexia Investor Services in 2006. The 2-bank collaboration invested majority of their services for mutual funds.

Internaxx expands activities in Luxembourg

The complete takeover by the RBC was seen by the Minister as a positive step. "This represents a growth logic," said Schneider, who also spoke in the context of it being good news for employees.

The Canadian government announced that it remains committed as a member of the group involved in the increase of activities in Luxembourg as a financial centre with the expansion on Internaxx. This is together with shareholder brokerage firm, Toronto Dominion.